CUTTING SPENDING BY 50% — KEYS TO HAVE 50% DISPOSAL INCOME

Cutting spending by 50% — It start with cutting debt — that is the first
key to having more disposal income.

The 2nd key is reading books or listening to Audio-Books on cutting debt. Under
standing debt is key.

The 3rd key is having a desire to be debt free.

The 4th key is having a desire to have money. This is a complicated issue with
most people because credit cards is all they use. Who want to have $300.00 or
$400.00 cash in their pocket????

The 5th key is understanding debt cost. Interest rates, fees, annual fees serve
no useful purpose but add additional cost to everything you purchase on credit.

The six key is a simple key — Financial Freedom or Living Paycheck To Paycheck!!!!

CORONAVIRUS — FROM PAYCHECK TO UNEMPLOYMENT — 16 MILLION HAVE FILED FOR UNEMPLOYMENT AND MORE TO COME

Managing risk in a crisis. Managing risk is second nature to wealth builders.
Cutting spending, paying down debt, saving, investing, and earning additional
income (THE NEXT BIG DEAL)

The Coronavirus virus have moved everyone out of their comfort zone. Even though
conserving cash by spending less it does build wealth. Having a large bank account
balance is an awesome position to be in during this crisis.

Yet, how does one goes about cutting spending. Lets start with thrifty spending.
Getting more every time you spend. This is not sacrificing or going without it’s
just managing in a crisis to have more:

FRUGAL SPENDING AND PAYING DOWN DEBT

Frugal Spending & Paying down debt

“Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty-pound ought and six, result misery”.

These words from Charles Dickens popular novel David Copper Field summarize frugality accurately.

In a layman’s term frugality is thriftiness or the quality of being economical with available resources.

ADDING INCOME – STARTING A BUSINESS

Adapting frugality is more than just a habit, in fact it is a mindset. While saying that, it is a mindset which can be adapted with practice and patience.

It is especially important for those who are in the process of paying down debt. The mathematics of frugality are straightforward as every dime you save can go to paying down your debt.

This in turn means that you can pay down your debt much faster and be done with it much quicker.

There are numerous ways in which you can adapt frugality and be more sensible with how you spend your resources.

elow are the three easy ways of initiating frugal habits:BUILD WEALTH NOW CLICK NOW

1. Creating a 30-Day purchase list; Impulse buying can prove very costly but it can be curbed. One way of doing that is to create a 30-day buying list.

If you want to buy something other than a true necessity (medicine, food) just put it on the list with the date you want to purchase it. The rule is not to buy anything (apart from necessities) for 30 days after purchasing that item.

2. Carpooling or taking the bus; Carpooling is a major money saver, plus it helps you to socialize more. Find a friend or a neighbor who lives and works in the same vicinity as yours.

our rides will be more joyous and economical. If carpooling does not work, simply take a bus and enjoy a stress-free ride to work.

STOP LIVING PAYCHECK TO PAYCHECK

3. Quit smoking; Apart from being bad for health smoking is a money vampire. On an average, a smoker loses close to $1500+/- in an year (Depending on habits).

In monetary terms smoking is a two-ended spear. It hurts the smoker in the present (monetary cost of purchasing tobacco) and in the future when the smoker must deal with the additional health costs.

Quit smoking and live a simpler and healthier life.

As mentioned earlier, frugality is a mindset therefore starting with a few of these habits will enlighten up your mind. You will start seeing room for frugality in every aspect of your life.

The shift in your view will help you save even more money. This is good news for your debt payment ambitions because it means that you are well on your way to pay down your debt more quickly.

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925 IDEAS TO HELP YOU SAVE——BY DAVID D. THORPE. YES IT’S FREE. PLEASE LEAVE A COMMENT AND LET US KNOW WHETHER MORE FREE BOOKS ON THIS BLOG WOULD BE APPRECIATE

MOTIVE BEHIND STARTING A BUSINESS — FINANCIAL FREEDOM — HAVE YOU THOUGHT ABOUT STARTING A BUSINESS???

Starting a business for the purpose of passive or residual income

The motive behind starting a business is often to make money that will be enough to cater for one’s needs. Earning large enough income will give you the opportunity to accomplish and live the type life you desire.

But most people don’t have the ability to live life on their own terms because they are either a slave to their debts or cannot break away from living on pay check. But this problem can be solved by the many benefits of residual or passive income.

One of the best ways to gain financial freedom is by setting up a business with residual income opportunity. There are many businesses both online and offline that one can set up to generate residual income.

Residual income by definition is the income one generated long after the work has been completed. It is the type of income that one continues to generate for as long as the business lives. Residual income also known as passive income has no limitations based on time.

Starting a business with residual income opportunity will enable you live life in your terms. You will continue to earn money whether you are there working or not. The amount of money you can make does not stop whether you get out of bed or not.

In addition, it is possible to have different streams of residual income. Unlike having two jobs that will consume your time, multiple streams of residual income will increase your earnings while also giving you enough free time. Residual income gives you a more lucrative alternative to finding a side hustle that will stress you and consume your precious time.

To kick start your dream of financial freedom, here some of the residual business opportunities that you can venture into.AWSOME FASHIONS

Invest in real estate
Rest estate is one of the most lucrative means of generating passive income. Apart from being lucrative, it give you rest of mind and requires little or no work.

Affiliate marketing

This involves promoting other people’s product online of which you get a commission once it leads to sale. Affiliate marketing can be done by marketing people’s product on your website. It can also be done by promoting them on social media platforms.

Affiliate marketing is a great way of making money online. You can make up to six figures every month from the comfort of your home. And remember, you do this at your time and pace.

Write an EBook

Selling a book online can be another great way of generating residual income. After the initial work of writing and creating the book, the only thing left is to make your money on every sale. You don’t need much capital to produce an EBook, no printing and shipping costs.
Other residual income business opportunities that you engage in include:

• Create lead generation website
• Start a drop shipping business
• Create a mobile app
• Invest in vending machines
• Rent out your spare room
And the list is endless. Continue reading “MOTIVE BEHIND STARTING A BUSINESS — FINANCIAL FREEDOM — HAVE YOU THOUGHT ABOUT STARTING A BUSINESS???”